The Science Based Targets initiative (SBTi) has unveiled updated plans to decarbonize high-impact sectors, including oil and gas, chemicals, and power—industries responsible for the bulk of global emissions. The new criteria aim to align businesses with science-based 1.5°C pathways and accelerate the transition to net-zero. Oil and Gas: First-Ever Decarbonization Standard Accounting for 85% of global CO₂…

The U.S. Environmental Protection Agency (EPA) and the Department of Energy (DOE) announced today a historic $850 million investment in 43 projects aimed at reducing methane emissions in the oil and gas sector. Seven projects in Colorado and Wyoming, part of EPA Region 8, are among those selected for funding as part of President Biden’s…

The European Commission has unveiled plans for its first net-zero emissions building, set to house the Joint Research Centre (JRC) in Seville, Spain. This landmark project highlights sustainability and innovation, aligning with the principles of the New European Bauhaus initiative. A Sustainable Blueprint Designed to offset both construction and operational carbon footprints, the building will…

The United States has set an ambitious new climate target under President Joe Biden, aiming to reduce greenhouse gas emissions by 61-66% by 2035 compared to 2005 levels. This builds on the nation’s commitment to achieving net-zero emissions by 2050 as part of the Paris Agreement. Transforming the U.S. Economy The climate strategy leverages landmark federal investments…

The Canadian Sustainability Standards Board (CSSB) has unveiled a pivotal new framework for sustainability reporting with the release of CSDS 1: General Requirements for Disclosure of Sustainability-related Financial Information and CSDS 2: Climate-related Disclosures. These inaugural Canadian Sustainability Disclosure Standards mark a transformative step in enhancing transparency and comparability in sustainability reporting across the nation. Key…

EFRAG is pleased to announce the delivery of its technical advice on the Voluntary Sustainability Reporting Standard for non-listed micro-, small-, and medium-sized undertakings (VSME), following the express request of the European Commission (EC) confirmed on December 12, 2024. The VSME is a key step toward simplifying sustainability reporting for SMEs and supporting their access to…

In response to the escalating global pollution crisis, the Global Reporting Initiative (GRI) has established a Pollution Working Group to develop new Topic Standard(s) on pollution. This initiative brings together 17 multi-stakeholder experts from around the world, who will focus on improving and expanding disclosures related to pollution across the GRI Standards. The working group’s primary…

The European Parliament has approved a one-year delay for the EU deforestation law, which aims to ban products sourced from deforested or degraded land. Initially set to take effect in December 2024, large companies now have until December 30, 2025, to comply, while small and micro enterprises will have until June 2026. Why the Delay? The…

The European Council announced today the adoption of groundbreaking regulations to significantly reduce packaging waste across the EU. Key measures include a requirement for all packaging placed on the market to be recyclable by 2030. The decision marks the final legislative step following the European Parliament's approval in April 2024. Initially proposed by the European Commission…

The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has released a new set of Questions and Answers (Q&As) to clarify the practical application of its Guidelines on funds' names using ESG or sustainability-related terms. The Q&As aim to promote consistency and a shared understanding among market participants and regulators on…

The European Commission will not ease its climate policies on car CO2 emissions despite mounting pressure from automakers, national governments, and the European People's Party (EPP), the bloc's largest political group. EU climate policy chief Wopke Hoekstra confirmed the stance in an interview with Reuters on Thursday. "No. The answer is no," Hoekstra said when asked…

The U.S. Environmental Protection Agency (EPA) has announced a settlement with Central Valley Meat Company Inc., resolving claims of violations under the Clean Air Act (CAA) and the Emergency Planning and Community Right-to-Know Act (EPCRA). The Hanford-based meat processing company will pay $210,332 in civil penalties and implement substantial safety measures to align with federal…